There are three main consequences of a short sale. Each can have long-term financial and legal consequences and must be considered carefully before entering into a short sale as a solution to missed mortgage payments. Failure to Secure a Deficiency Waiver As mentioned...
The Consumer Financial Protection Bureau, a U.S. government agency, warns consumers that there are states in which homeowners are responsible for the difference between the value of your property and the amount you still owed on the mortgage loan. This amount, which...
Most short sale homes are listed for sale just like any other home on the market. That said, the sales process is much more complex. The Freddie Mac website advises homeowners exploring short sales to work with a qualified real estate professional. Process Once a...
If a homeowner loses the ability to meet the financial obligations of their mortgage loan, a short sale is an alternative to foreclosure. Still a complex process with financial and legal consequences, a short sale can be advantageous to multiple parties in the...
Purchasing a home is often the biggest financial investment in an individual’s lifetime. A house becomes a home, a place of sanctuary, rest, and peace. When a person purchases a home with a mortgage loan, the lender goes through an extensive loan application and...
In the world of residential real estate, most transactions involving the sale and purchase of a house happen between an individual (or family) that wants to sell a home and an individual (or family) that wants to buy a home. In general, most transactions happen...
If you are selling or buying a home as part of a for-sale-by-owner transaction, being represented by a qualified and experienced real estate attorney can bring a lot of peace of mind to the transaction. The website, ConsumerAffairs.com states: “Even if your state...
If you are contemplating either selling your home without representation or buying a home with the guidance of even a real estate agent, be sure to understand your competencies and limitations. Sellers Sellers in for-sale-by-owner transactions must follow all legal...
Every year over 200,000 home sellers decide to sell their homes without the use of a real estate agent. These transactions are known as for-sale-by-owner or FSBO home sales. Owners selling their homes without a real estate listing agent may sell their homes to buyers...
We are proud to announce that TitleTap and its suite of products have officially been acquired by ProfitSolv – a comprehensive suite of software solutions for legal, accounting, and other professional services firms. As we take a moment to reflect we thought it...
